A
Arrival will depart the stock exchange.
The British EV company said in a filing that it had received notice from NASDAQ that it was being delisted and removed from the stock exchange for failure to comply with listing rules. The cash-strapped company has already gone through several rounds of layoffs, and is reportedly in talks with an accounting firm to act as administrator if it can’t secure more funding to keep the lights on.
The company has been struggling to make do with its limited resources for several years, even as it seeks to kick off serial production of its main product, an electric van. Arrival is the latest of many fledgling companies that have been struggling to match Tesla’s success in bringing new vehicles to market.
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